What is Conscious Spending?

Conscious spending is about selective spending and valuable spending. There are many kinds of not so conscious spending. Some of them are: Impulse Buying. Unplanned Buying. Marketing Induced Buying Influenced Buying

SPENDING HABITS

Tania Sinha

6/2/20252 min read

Conscious Spending

Conscious spending is about selective spending and valuable spending. There are many kinds of not so conscious spending. Some of them are:

Impulse Buying.

Unplanned Buying.

Marketing Induced Buying

Influenced Buying

a book with a pen and a pen and a cup of coffee
a book with a pen and a pen and a cup of coffee

Here is a visual guide on conscious spending

Courtesy: Youtube Channel @morningmoneybuzz

Types of Buying Habits

a woman is shopping at the cash register
a woman is shopping at the cash register

Impulse buying means you are buying just by your impulses. Impulse means you are buying then and there at the moment just spontaneously without looking at the price or quality or quantity. It can be called compulsion buying.

1. Impulse Buying

a man and woman standing in front of a shopping carton
a man and woman standing in front of a shopping carton

2. Unplanned Buying.

Buying things out of emotions or unplanned buying. You have not planned about it but you value your emotions and ended up buying that product even though it’s out of your budget.

a woman is standing in front of a shopping carton
a woman is standing in front of a shopping carton

Buying because of clever marketing tactics. A marketing technique that overrule your judgement. You ended up buying something that is not exact but somehow similar to what you have planned to buy.

3. Marketing Induced Buying

a woman is shopping in a storefront window
a woman is shopping in a storefront window

4. Influenced Buying

Buying just because you are getting influenced by social norms, or by looking at other people’s valuable lifestyle i.e. buying out of your budget.

Types of Conscious Spending

In recent years we have seen a trend of conscious spending habits . Consumers do avoid materialistic buying. That is buying for self-image, status or self-worth.

Consumer also supporting branding and quality over quantity.

Cancellation of all unnecessary subscription plans and keeping the required ones.

48 hours rule to rethink before any premium product buying or service.

Giving priority to saving culture more than spending

Implementing traditional investment options with valuable returns.

consumers are financially literate and have knowledge about marketing campaigns and independent decision-making individuals.

Before buying consumer look for options like warranty the companies offering for the concerned product or service.

While spending consumer look for wallet credit point options, rebate coupon options.

Budget Spending i.e. consumers always ended up buying things with in their budget.

a map of india with the words, which reads, which is the most important
a map of india with the words, which reads, which is the most important
a map of india with the words,'conscious, conscious and conscious in india
a map of india with the words,'conscious, conscious and conscious in india

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